The firm was rescued from administration back in 2020
Popular fashion brand Jeanswest has collapsed – putting hundreds of jobs at risk in Australia, according to reports.
As reported by Inside Retail Australia, the shopping mall mainstay has been placed in voluntary liquidation with all 90 stores across the country to be closed down.
The company that rescued the fashion outlet from administration in 2020 – Harbour Guidance Pty Ltd – has appointed Lindsay Bainbridge, Andrew Yeo and David Vasudevan of Pitcher Partners Melbourne as administrators.
In a statement, Mr Bainbridge said, ““The owners have done everything they can to keep Jeanswest going, but market conditions mean sustaining bricks-and-mortar stores is not viable and unlikely to improve.”
“They deeply regret the impact of store closures on their team members and their customers, and we will be working now with teams across the country.”
All stock at stores across Australia are to be put on immediate sale as the administrators begin to restructure the business, the statement reads.
The national chain was founded by Alister Norwood, who opened the first store in Perth in 1972 – a decision made to draw attention to the city’s in-crowd, rising business types, trend setters, beach girls and even international rock stars, according to 7News.
